Do You Have Good UVP?

Why Good UVP Matters

UVP, otherwise known as Unique Value Proposition or Unique Selling Proposition, is a vital piece of being in business — it’s your golden egg. (But don’t get greedy like the guy in the fable! Just let it keep working for you!) It’s vital to any business in any industry. Why? Because when you attempt to be known for everything, you don’t become known for anything.

The bottom line? You may match a competitor in every way, but if you don’t differ — and excel — in at least one key way, you won’t stand out from your competitors. This unique something that you bring to the table is what allows you to position yourself as the best choice for your ideal client or customer. A solid UVP clearly answers the “what’s in it for me?” question every customer is asking, whether consciously or unconsciously. Your client or customer wants to know what’s the benefit, the big get, for working with you or buying from you. When your UVP is clear, it makes it easy for your client or customer to buy whatever it is you’re offering. Remember:

How To Identify If You HAVE A Good UVP

Take a few moments and really think about these questions:

Do you definitively know what it is about your business or how you do business that’s unique from your competitors?

Can you clearly convey this unique something to your prospective clients and customers so they understand the tangible benefits?

Does what you offer intrinsically and positively answer the “What’s in it for me?” question?

If you find yourself unclear, it’s time to do a little homework. Your UVP is going to relate closely to your ideal client/customer profile (which works along with the other elements of your business messaging: Goals, Core Values, Mission Statement, and Vision Statement.) Once you know what problem(s) your prospective clients/customers face on a daily, weekly, monthly, or yearly basis, you can focus on conveying how your products or services will provide a solution to that problem(s).

The thing to remember about a UVP is that it doesn’t have to be huge. ONE thing done excellently can create an enormous impact.

UVP Examples

STARBUCKS:

Stands for premium coffee beverages, and they’re known for the same — but they don’t stand for premium coffee AND gourmet breakfast sandwiches AND the most amazing smoothies AND the best prices. They’re the convenient premium coffee cafe that happens to also sell breakfast sandwiches and smoothies if you want one while you’re picking up your delicious coffee. They chose offering premium coffee as their UVP.

BASECAMP:

Top choice of entrepreneurs, freelancers, and small businesses for an online project collaboration tool — but they don’t try to appeal to large organizations. If they did, the product would become too complicated for smaller organizations and would likely be too simple for larger corporations.They chose to provide value for smaller businesses.

ZAPPOS:

Known as the most convenient, customer-friendly online store for purchasing shoes — but they aren’t known as the most convenient store for purchasing shoes AND for the lowest prices. It’s impossible to do both. They chose customer-friendly and convenient as their UVP.

Creating Your UVP

If you’re really unclear, start with yourself. There’s no one else like you on the planet, so start by asking:

What do I bring to the business table that’s unique?

What is it about ME that is different from someone else offering the same service/product?

What is it about HOW I do business, create, innovate, deliver, or manage client/customer relations that is different?

BE UNIQUE. You can literally create a unique product, offer, or guarantee.

FIX A PROBLEM/PROVIDE A SOLUTION. Be crystal clear about how you’re going to solve your customers’ problem, whatever it may be.

SHARE THE BIG BENEFIT. There’s a big difference between what your product does, and what your product does for your customer. Make sure your customers know what’s in it for them.

Your unique value proposition is in intrinsic piece of your overall messaging and it needs to be strategically woven into all your marketing pieces. If you struggle with this, you’re NOT alone! Many business owners are driven to serve their clients and customers and truly want to help solve problems, but are challenged to convincingly articulate why a client ought to work with them versus another offering similar services or products. If you find yourself stuck, please remember, I am a resource. 🙂